MACAO – Media OutReach – 25 March 2023 – In the morning of March 25, Micro Connect launched its Micro Connect Macau Financial Assets Exchange (MCEX) in Macau. MCEX is the first licensed global exchange for Daily Revenue Obligations (DROs), a new asset class that connects institutional capital around the world with China’s micro and small businesses.
The Chief Executive of the Macao Special Administrative Region (Macao SAR), Mr. Ho Iat Seng, Chairman of the Board of the Monetary Authority of Macao, Mr. Chan Sau San, together with Micro Connect Founder and Chairman, Mr. Charles Li, and Micro Connect Founder and CEO, Mr. Gary Zhang, officiated the “Prelude” ceremony with several key government officials in Macau. Key stakeholders of Micro Connect including investors from around the world, representatives of China’s micro and small businesses, industry associations and financial institutions attended the ceremony, along with the media.
Micro Connect Macao Financial Assets Exchange Co., Ltd., MCEX, was set up according to an Executive Order announced by the Chief Executive of the Macao SAR on December 5, 2022. MCEX will bring about an unprecedented economically inclusive and socially impactful financial market that supports grassroots entrepreneurship, increases job opportunities and helps achieve “common prosperity”.
Mr. Chan Sau San, Chairman of the Board of the Macau Monetary Authority, said in his speech, “The Macau Monetary Authority is actively deploying the development of the modern financial industry, taking advantage of Macao’s highly open financial system, and introducing different types of financial institutions to settle in Macao. It is hoped that after the trial operation of MCEX, the business model will be gradually straightened out and a solid risk prevention mechanism will be established; at the same time, opportunities will be fully seized, based on the location advantage of the “intersection” of Macao’s dual circulation, and international funds will be introduced to help China’s micro and small businesses and the real economy, and contribute to Macao’s economic diversification.”
At the opening ceremony, Mr. Charles Li, Founder and Chairman of Micro Connect, expressed his expectations and vision for MCEX: “Today, we are extremely pleased to establish our innovative platform in Macao. This is the world’s first financial market dedicated to the micro economy of China through an innovative new asset class, the DRO. By leveraging China’s leading digital economy, it will reshape the global financial landscape. New endeavors require new environments, and we look forward to Micro Connect’s contribution to connecting China’s micro and small businesses with global capital.”
The Chief Executive of Macao, Mr. Ho Iat Seng, and other guests of honor, together with the Founders of Micro Connect, Charles Li and Gary Zhang, came on stage to cut the
ribbon and strike the gong, officially marking the launch of trial operations for MCEX.
Following the ceremony, Mr. Gary Zhang, announced a number of major milestones for Micro Connect and MCEX: the launch of DROs, the world’s first exchange-traded revenue sharing product; the launch of the Micro Connect Leadership Fund; and the launch of the Micro Connect Daily Cash Index (MDCI) and Micro Connect Composite Index. He said: “The establishment of MCEX means that financing via financial exchanges is no longer exclusive to a small number of large corporates, but now a convenient choice for millions of micro and small businesses. As an important channel for these entities, Macao will rise to become a new international financial center in the digital age.”
The listing of the first batch of Micro Connect’s DROs was kicked off by Mr. Li, Mr. Zhang and owners of three stores in Mainland China funded by the MCEX platform, marking the start of a new funding channel for China’s micro and small businesses.
Lastly, Mr. Gary Zhang said, “Let us remember this very moment. This is the first batch of micro and small businesses being funded on the exchange in human history! This is a historic moment for MCEX and for Macau, but most of all , for countless of micro and small businesses! Let us all cheer for Macao and the entrepreneurs of China!”
Through the new financial market platform, MCEX, Micro Connect hopes to provide China’s micro and small businesses with adequate and sustainable financing while allowing global investors to enjoy quality returns by tapping into their daily and transparent cash flows. Thereby, MCEX will create a blue ocean of opportunities for global capital while providing a significant boost to China’s grassroots economy. In the meantime, MCEX will also help to form the foundations of Macau’s financial infrastructure and further develop its innovation and technology industry. With this industrial upgrade and economic diversification, Macao will become a multi-level financial services center and a focal point in the Greater Bay Area.
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